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Patil Automation IPO: GMP, Subscription Status, Price Band, Offer Size And More
- Patil Automation IPO is a book-built issue worth Rs 69.61 crore with a NSE SME offer consisting entirely of a fresh issue of 58.01 lakh equity shares.
- The company aims to raise nearly Rs 70 crore from the primary market through its NSE SME issue focusing on welding and line automation solutions.
- Key details include the allocation percentages: 50% for QIBs, 35% for Retail investors, and 15% for NIIs; Price band set at Rs 114 - Rs 120 per share.
- Investors can apply for a minimum of 1,200 shares with the IPO closing on June 18, and listing tentatively scheduled for June 23 on NSE SME.
- As of June 16, the grey market premium (GMP) for Patil Automation IPO is Rs 22 per share, indicating a potential 18.33% listing gain.
- Founded in 2015, Patil Automation Ltd. specializes in automation solutions like welding lines and gantries, with plans to use IPO funds for new facility setup and loan repayment.
- Financially, the company's revenue in FY 2024-25 increased by 3% to Rs 122.04 crore with a net profit increase of 49.2% to Rs 11.7 crore.
- Investments in IPOs are subject to market risks; investors should consult financial advisors and thoroughly read the red herring prospectus.
- Lead book-running manager for the IPO is Seren Capital Pvt. and the registrar is Purva Sharegistry India Pvt.; Mansi Share & Stock Broking Pvt. is the market maker.
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